IPIC Plans to Step Up its Foreign Investments to 40 Billion Over Five Years

摘要

The foreign investments of International Petroleum Investment Company (IPIC), which were valued at 14 billion at the end of 2007, are to be stepped up to 40 billion over the next five years, according to the Abu Dhabi investment agency's Managing Director, Mr. Khadem al-Qubaisi. He pointed out that this was double its previous objective of 20 billion, "to which we are very close," adding: "We have ambitious plans for the near future. When we take a final decision, We will announce it." The company plans to target North African and Mediterranean countries in particular.